TH E M i LL W H J STLE
. l/U /.
»»
Eden, N. C., April 14, 1969 Nq. 19
Your Group Insurance Leads The Field!
, ^ieldcrest. IVTlllo in 1 Qfift r*/^.n+im lorT tn rvamj TTr«ao iinoVkl^ +/~i +Vxy^ 1 —. . .
isldcrest Mills in 1968 continued to
p® a leader in fringe benefits for em-
oyees. Payments to employees and
.families in the form of insurance
reached an all-time high of ov-
p million, an increase of TlVz
cent over the previous year.
the number of claims handled
g amount of benefits received by
Ployees and their dependents were
levels, the employees’ contri-
ip to the cost of insurance benefits
g.^^^^®ased only about 6% percent on the
1968 IMPROVEMENTS
I’i insurance plans for all of
Pj,® dcrest’s southern plants were im-
April 1, 1968, bringing a sub-
cal k ^ increase in hospital and surgi-
Ihe At the same time, all of
thf> were standardized except for
ip® Plan at the North Carolina Finish-
Company division, where the com
pany was unable to obtain the imion’s
agreement to improve the benefits.
BY THE WAY!
Also in 1968, pension benefits were
increased 25 percent for company serv
ice after December 1, 1957, substantial
ly improving the hourly paid employees
Pension Plan. This is a major benefit
provided for Fieldcrest employees.
The company pays the entire cost.
Fieldcrest in September, 1968, made
an additional contribution of over
$500,000 to the Pension Trust. This latest
payment, covering the year 1967, in
creased the value of the trust fund to
more than $10 million. Money paid into
the fund cannot be recovered by the
company and must be used only for the
payment of employees’ pensions.
KEEPING A GOOD RECORD GOING
Important as pensions are in one’s
later years, active employees receive
the greatest benefit from the group in
Security Analysts Visit Mills
, ®curity analysts from New York
2, ''lilted Fieldcrest Wednesday, April
shown upon their arrival at the
t6f®®'^boro-High Point Airport by char-
tij plane. In the foreground of the
members of the group are greet-
y Richmond R. Roberts, vice presi
dent, finance and treasurer of Fieldcrest.
The visitors boarded buses for a trip
to Eden and Fieldale, Va., for mill tours
and a luncheon meeting at which they
heard talks by Company officials. See
pages two and three for the story and
more pictures.
surance plan. It is here that Fieldcrest
ranks at the top in the textile industry.
Fieldcrest pioneered in group insur
ance more than 35 years ago and is
widely recognized for its responsible,
progressive, well-administered insur
ance plan providing protection for em
ployees and their dependents. It is a
complete insurance plan, specially de
signed to provide the greatest benefit
for all employees. Detailed studies are
made regularly to be sure that the pro
gram continues to fit as nearly as pos
sible the needs of all Fieldcrest em
ployees.
BETTER BENEFITS
At present, the minimum amount of
group life insurance for a Fieldcrest
employee is $5,000, with the average
being about $8,000. Many employees
are covered by the $10,000 maximum.
This is at least three times the amount
of life insurance under most group
plans in the textile industry. Fieldcrest
group life insurance carries, in addi
tion, a double indemnity feature, pay
ing double the face amount in case of
accidental death. The plan also pays
for accidental dismemberment.
Along with the employee’s insurance,
the Fieldcrest plan provides $1,000 life
insurance on the employee’s husband
or wife not working for the company
and up to $1,000 on all of the em
ployee’s children up to 19 years old
(23 years old if a full-time student).
Another example of Fieldcrest’s
leadership in benefits is in Accident
and Health insurance which pays $35
per week whereas the average textile
plan pays about $20 per week. This
was shown by a survey of 10 textile
companies, some larger and some small
er than Fieldcrest.
OUTSTANDING PLAN
It is in the area of Hospital-Surgical-
Medical insurance that Fieldcrest is
most outstanding in comparison with
others.
Take for example hospital room and
board allowances: The Fieldcrest plan
pays up to $25 a day for a maximum of
70 days, while the average daily allow
ance in other textile companies is $17
a day, and many of the plans surveyed
pay only for about 30 days of hospitali
zation.
The same survey showed that the
(Continued on Page Seven)